Official: New euro accord to include 23 countries

December 9, 2011 - 12:45 AM
Belgium Europe Financial Crisis

German Chancellor Angela Merkel arrives for an EU summit in Brussels on Thursday, Dec. 8, 2011. During a two-day summit German Chancellor Angela Merkel and French President Nicolas Sarkozy will try to build support for their plan for eurozone nations to submit their national budgets to much greater scrutiny. (AP Photo/Geert Vanden Wijngaert)

BRUSSELS (AP) — The president of the European Council says a new treaty will include 17 euro states plus 6 other EU states — but not all 27 EU members.

Herman Van Rompuy, president of the European Council, said the countries would provide up to euro200 billion ($268 billion) in extra resources to the International Monetary fund.

French President Nicolas Sarkozy said early Friday he would have preferred a treaty among all the members of the EU, but he could not because of the British position. He said the new accord should be ready by March.

Sarkozy said the British proposed that they be exempted from certain financial regulation. "We could not accept this" because a lack of sufficient regulation caused the current problems, Sarkozy said.